Tuesday, September 21, 2021
Home Politics PNB Reports Fraud Of Rs 1,203 Crore By Sintex Industries

PNB Reports Fraud Of Rs 1,203 Crore By Sintex Industries

- Advertisement -

New Delhi: Public sector Punjab National Bank (PNB) reported fraud of Rs 1,203.26 crore in the non-performing assets (NPA) account by Sintex Industries. The fraud was reported at corporate branch of the bank at Ahmedabad, Zonal Office in Gujarat, said the lender.

“A fraud of Rs 1,203.26 crore is being reported by the bank to the RBI in the accounts of the company (SIL). Bank has already made provisions amounting to Rs 215.21 crore as per prescribed prudential norms”, it said in a regulatory filing.

Earlier in the day, Sintex Industries said it had a debt repayment of Rs 49.54 crore to a total of 10 investors. Out of which, Rs 45.84 crore is related to the principal amount, while Rs 3.70 crore remains to interest that was due.

The total debt of Sintex was Rs 7,358.88 crore by the end of June.

Before the announcement of PNB, the lender’s shares closed 1.72 per cent lower at Rs 28.55, with that of Sintex Industries’ dropped 4.13 per cent to Rs 2.09.

- Advertisement -
- Advertisement -
Stay Connected
16,985FansLike
2,458FollowersFollow
61,453SubscribersSubscribe
Must Read

Bhavai Will Always Remain Close To My Heart: Pratik Gandhi

Mumbai: Pratik Gandhi (of Scam 1992 fame)-starrer Bhavai has hit the right note ever since the launch of the teaser and trailer. The performance,...
- Advertisement -

Our Fight Is Against Talibanisation Of West Bengal: New State BJP Chief Takes Dig At TMC

Kolkata: Newly-appointed West Bengal BJP chief Sukanta Mazumdar on Tuesday termed the ruling TMC as Taliban and emphasised on his party's relentless mission to...

Kangana Ranaut Bats For Ram Rajya…Check It Out

Mumbai: Kangana Ranaut is never the one to be reluctant to speak her mind and heart and when it comes to her ideologies, the...

Navjot Singh Sidhu Gets What He Wanted, But Now Acid Test Begins

Chandigarh: Punjab Pradesh Congress President Navjot Singh Sidhu is on the job and he means it. Soon after 'spearheading' his endeavour to foist one of...
Related News

Bhavai Will Always Remain Close To My Heart: Pratik Gandhi

Mumbai: Pratik Gandhi (of Scam 1992 fame)-starrer Bhavai has hit the right note ever since the launch of the teaser and trailer. The performance,...

Our Fight Is Against Talibanisation Of West Bengal: New State BJP Chief Takes Dig At TMC

Kolkata: Newly-appointed West Bengal BJP chief Sukanta Mazumdar on Tuesday termed the ruling TMC as Taliban and emphasised on his party's relentless mission to...

Kangana Ranaut Bats For Ram Rajya…Check It Out

Mumbai: Kangana Ranaut is never the one to be reluctant to speak her mind and heart and when it comes to her ideologies, the...

Navjot Singh Sidhu Gets What He Wanted, But Now Acid Test Begins

Chandigarh: Punjab Pradesh Congress President Navjot Singh Sidhu is on the job and he means it. Soon after 'spearheading' his endeavour to foist one of...

Shun Dowry If You Want Admission In Calicut University

Calicut: If you are aspiring to pursue higher education in the Calicut University, make sure you eradicate all thoughts of giving or taking dowry. According...
- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here